The Small Wonder: The Revival Of AA Clothing Company In America
US apparel chain corporation AmericanApparel raised $14 million 900 thousand on the eve of bankruptcy, avoiding the doom of bankruptcy.
AmericanApparel, the US apparel chain corporation, said Canadian financiers were sold through partial discounts of 43%.
MichaelSerruya
Headed by DelavacoCapital
Private investment group
We raised $14 million 900 thousand successfully.
AmericanApparel has been facing a decline in sales for a long time. It has recently indicated that if it fails to raise enough capital to continue its operation, the company will have to file for bankruptcy.
According to the latest agreement, new investors can acquire another 27 million 400 thousand shares at the same price within 180 days.
The company said it was also working with Bank of America.
LionCapital
The fund company and other debtors agreed to increase the minimum additional loan requirement from 7 million 500 thousand US dollars to US $12 million 500 thousand and increase the dilution protection rights of LionCapital fund company.
The consultative loan amendment plan is also expected to abandon the requirement that the "normal operation" or similar statement should not be included in the 2010 performance report.
The company's share price fell to $1.4 on Tuesday, rising to $1.5 last year, a drop of 5%.
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